220 Maple Avenue SW, Elysian, MN 56028

$2,400,000
Property Type: Multi-Family Bedrooms: 5 Baths: 3 Square Footage: 17,280 Lot Size (sq. ft.): 93,654 Status: Active
Current Price: $2,400,000 List Date: 4/01/2026 Last Modified: 5/27/2026

Overview

Description

Rare opportunity to acquire a fully stabilized, newer-construction 16-unit portfolio delivering immediate cash flow and long-term upside. Built in 2021/2022, this package includes four 4-plexes (two two-story, one single-level, one bi-level) strategically positioned on 2.15 acres. This is true turnkey investing—all 16 units are fully leased with a proven rental history, minimizing lease-up risk and operational uncertainty from day one. Units are designed for durability and tenant retention, featuring modern, low-maintenance finishes including LVP flooring, stainless appliances, spacious kitchens with islands, in-unit laundry, and separate HVAC systems. Private patios/decks, strong natural light, and ample off-street parking enhance tenant appeal and support consistent occupancy. Investment Highlights: 17,208 finished sq ft, 16 units, 36 bedrooms, 20 bathrooms, Gross annual income: $243,000, Operating expenses: $61,692 Strong in-place cash flow with efficient expense ratio. Newer c ...

Listing Details MLS# 7046788

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Owner Occupied
No
Year Built
2021
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
17280
Above Ground SqFt
17280
Total SqFt
17280
Foundation Size
11552
Style
(MF) Four Plex
Total Finished Sqft
17280.00
Lot Dimensions
2.15
Acres
2.15
Assessment Pending
Yes
# Carport Spaces
0
Below Grd Total SqFt
0
Garage Stalls
0

Property Features

Accessible: Doors 36"+; Other Basement: None Construction Materials: Frame Construction Status: Previously Owned Electric: 100 Amp Service; Circuit Breakers Exterior: Brick/Stone; Vinyl Foundation: Slab Fuel: Natural Gas Heating: Forced Air Internet Options: Cable Laundry: Electric Dryer Hookup; In Unit; Laundry Closet; Washer Hookup Lock Box Type: None Lot Description: Corner Lot; Underground Utilities Owner Pays: Exterior Maintenance; Grounds Care; Insurance; Lawn; Maintenance/Repair; Repairs; Snow Removal; Taxes; Trash Collection Parking Characteristics: Parking Lot; Paved Lot Rental License Type: Standard Road Frontage: City Street; Paved Streets Road Responsibility: Public Maintained Road Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Two Tenant Pays: All Utilities; Cable TV; Electricity; Gas; Heat; Telephone; Water Unit 1 Amenities: Open Floor Plan; Cable; Ceiling Fan(s); Kitchen Center Island; Natural Woodwork; Patio; Washer/Dryer Hookup Unit 1 Appliances: Stainless Steel Appliances; Air-to-Air Exchanger; Dishwasher; Microwave; Range; Refrigerator; Washer Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Central Unit 1 Dining Room Description: Kitchen/Dining Room Unit 1 Special Search: Main Floor Bedroom; 2nd Floor Laundry; Main Floor Laundry; Main Floor Primary Unit 2 Amenities: Open Floor Plan; Walk-In Closet; Ceiling Fan(s); Kitchen Center Island; Kitchen Window; Main Floor Primary Bedroom; Paneled Doors; Patio; Primary Bedroom Walk-in Closet; Washer/Dryer Hookup Unit 2 Appliances: Stainless Steel Appliances; Air-to-Air Exchanger; Dishwasher; Dryer; Microwave; Range; Refrigerator Unit 2 Bath Description: Bathroom Ensuite; Full Primary; Main Floor Full Bath; Private Primary Unit 2 Cooling: Central Unit 2 Dining Room Description: Eat In Kitchen Unit 2 Special Search: Main Floor Bedroom; Primary Bdr Suite; 3 BR on One Level; Main Floor Laundry; Main Floor Primary Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
2400000
ListPrice
2400000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
220
Street Name
Maple
Street Suffix
Avenue
Street Direction Suffix
SW
Postal City
Elysian
County
Le Sueur
State
MN
Zip Code
56028
Complex/Dev/Subdivision
Hidden Meadows

Additional Parcels Information

Property ID #2
164260020
Property ID #3
164260010

Assessments

Assessment Balance
7386
Tax With Assessments
32158

More Information

Basement

Foundation Dimensions
0x0
None
Yes

Building Information

Finished SqFt Above Ground
17280

Income and Expenses

Annual Electric Expense
2972
Annual Gross Expenses
61692
Annual Gross Income
243000
Annual Insurance Expense
14001
Annual Maintenance Expense
904
Annual Trash Expense
4882
Total Annual Expenses
61692
Annual Caretaker Expense
0
Annual Fuel Expense
0
Annual Repair Expense
0
Annual Water/Sewer Expense
0

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
RASM
None
Yes

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
0x0
Parking Lot
Yes
Paved Lot
Yes

Unit 1

Furnished?
No
Leased?
Yes
Unit Number
Yes
Annual Rent
13820
Finished SqFt
900
Full Baths
Yes
Monthly Rent
1150
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit 2

Furnished?
No
Leased?
Yes
Level
Main Level
Unit Number
2
# of Fireplaces
Yes
Annual Rent
77400
Finished SqFt
1404
Full Baths
2
Monthly Rent
1650
No. of Units Like This
Yes
Total Baths
2
Total Bedrooms
3
Total Rooms
9

Unit Details

Total Units
4

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
HIDDEN MEADOWS NO. 2 LOT-003 BLOCK-001 1.51 AC
Listing City
Elysian
Map Page
999
Municipality
Elysian
School District
Waterville-Elysian-Morristown
School District Phone
507-275-3115
Zip Plus 4
242
Property ID Number
164260030
Tax Year
2026
Tax Amount
24772
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Rare opportunity to acquire a fully stabilized, newer-construction 16-unit portfolio delivering immediate cash flow and long-term upside. Built in 2021/2022, this package includes four 4-plexes (two two-story, one single-level, one bi-level) strategically positioned on 2.15 acres. This is true turnkey investing—all 16 units are fully leased with a proven rental history, minimizing lease-up risk and operational uncertainty from day one. Units are designed for durability and tenant retention, featuring modern, low-maintenance finishes including LVP flooring, stainless appliances, spacious kitchens with islands, in-unit laundry, and separate HVAC systems. Private patios/decks, strong natural light, and ample off-street parking enhance tenant appeal and support consistent occupancy. Investment Highlights: 17,208 finished sq ft, 16 units, 36 bedrooms, 20 bathrooms, Gross annual income: $243,000, Operating expenses: $61,692 Strong in-place cash flow with efficient expense ratio. Newer construction = reduced capital expenditure risk. With limited comparable inventory of newer multi-family assets, this portfolio offers a compelling blend of stability, efficiency, and scalability. Ideal for investors seeking immediate yield with long-term hold potential. Offered as a package. Full financials and rent roll available upon request.
Directions
MN Hwy 60 to NW 3rd to Southwest Maple Ave SW.

Accessible

Doors 36"+
Yes
Other
Yes

Construction Materials

Frame
Yes

Construction Status

Previously Owned
Yes

Electric

100 Amp Service
Yes
Circuit Breakers
Yes

Exterior

Brick/Stone
Yes
Vinyl
Yes

Foundation

Slab
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Internet Options

Cable
Yes

Laundry

Electric Dryer Hookup
Yes
In Unit
Yes
Laundry Closet
Yes
Washer Hookup
Yes

Lot Description

Corner Lot
Yes
Underground Utilities
Yes

Owner Pays

Exterior Maintenance
Yes
Grounds Care
Yes
Insurance
Yes
Lawn
Yes
Maintenance/Repair
Yes
Repairs
Yes
Snow Removal
Yes
Taxes
Yes
Trash Collection
Yes

Patio, Porch and Deck Features

Deck
Yes
Patio
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes
Paved Streets
Yes

Road Responsibility

Public Maintained Road
Yes

Sellers Terms

Cash
Yes
Conventional
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

No. of Ranges

One Per Unit
Yes

No. of Refrigerators

One Per Unit
Yes

Tenant Pays

All Utilities
Yes
Cable TV
Yes
Electricity
Yes
Gas
Yes
Heat
Yes
Telephone
Yes
Water
Yes

Unit 1 Amenities

Open Floor Plan
Yes
Cable
Yes
Ceiling Fan(s)
Yes
Kitchen Center Island
Yes
Natural Woodwork
Yes
Patio
Yes
Washer/Dryer Hookup
Yes

Unit 1 Appliances

Stainless Steel Appliances
Yes
Air-to-Air Exchanger
Yes
Dishwasher
Yes
Microwave
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 1 Bath Description

Main Floor Full Bath
Yes

Unit 1 Cooling

Central
Yes

Unit 1 Dining Room Description

Kitchen/Dining Room
Yes

Unit 1 Special Search

Main Floor Bedroom
Yes
2nd Floor Laundry
Yes
Main Floor Laundry
Yes
Main Floor Primary
Yes

Unit 2 Amenities

Open Floor Plan
Yes
Walk-In Closet
Yes
Ceiling Fan(s)
Yes
Kitchen Center Island
Yes
Kitchen Window
Yes
Main Floor Primary Bedroom
Yes
Paneled Doors
Yes
Patio
Yes
Primary Bedroom Walk-in Closet
Yes
Washer/Dryer Hookup
Yes

Unit 2 Appliances

Stainless Steel Appliances
Yes
Air-to-Air Exchanger
Yes
Dishwasher
Yes
Dryer
Yes
Microwave
Yes
Range
Yes
Refrigerator
Yes

Unit 2 Bath Description

Bathroom Ensuite
Yes
Full Primary
Yes
Main Floor Full Bath
Yes
Private Primary
Yes

Unit 2 Cooling

Central
Yes

Unit 2 Dining Room Description

Eat In Kitchen
Yes

Unit 2 Special Search

Main Floor Bedroom
Yes
Primary Bdr Suite
Yes
3 BR on One Level
Yes
Main Floor Laundry
Yes
Main Floor Primary
Yes

Documents

IDX
Listing Office: RE/MAX Advantage Plus
Last Updated: May - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Search powered by FBS Products